Thyssenkrupp CEO says has mandate to keep group as conglomerate

FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp (TKAG.DE) Chief Executive Guido Kerkhoff, which took the helm of the group after the sudden departure of Heinrich Hiesinger last month, on Thursday said he has a clear mandate to develop the company in its current form.

The sprawling steel-to-elevators group has been subject to break-up speculation for months, with investors calling for a spin-off, listing or sale of some of its units, most notably its elevators and materials trading division.

In a call with journalists following the publication of quarterly results and new mid-term targets, Kerkhoff said he had the supervisory board’s backing to continue the group’s current strategic path for now, “with all businesses under one roof”.